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Pie Corporation acqulred 7 5 percent of Slice Company's common stock on December 3 1 , 2 0 X 5 , at underlyling book value.
Pie Corporation acqulred percent of Slice Company's common stock on December X at underlyling book value. The book
values and falr values of Slice's assets and liabilitles were equal, and the falr value of the noncontrolling interest was equal to
percent of the total book value of Slice. Slice provided the following trlal balance data at December X:
Required:
a How much did Ple pay to purchase Its shares of Slice?
Note: Round your answer to nearest whole dollar amount.
b If consolidated financial statements are prepared at December X what amount will be assigned to the noncontrolling
Interest In the consolidated balance sheet?
Note: Round your answer to nearest whole dollar amount.
c If Ple reported Income of $ from its separate operations for what amount of consolidated net income will be reported
for
d If Ple had purchased its ownership of Slice on January X at underlying book value and Ple reported Income of $ from
Its separate operations for what amount of consolidated net income would be reported for
Answer is complete but not entirely correct.
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